# In the matter of HDFC Bank Ltd. vs. Atul Kumar Kansal & Ors.

> NCLAT judgment dated 2025-04-08. Citation: TCN-2025-NCLAT-00115. HDFC Bank Ltd. filed an appeal against an order dated 07.03.2025, where the Adjudicating…

- **Court:** NCLAT
- **Order date:** 8 Apr 2025
- **Citation:** TCN-2025-NCLAT-00115
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/hdfc-bank-ltd-vs-atul-kumar-kansal-ors-d4fce928

## Summary

### Background

HDFC Bank Ltd. filed an appeal against an order dated 07.03.2025, where the Adjudicating Authority rejected the objection filed by HDFC Bank (I.A. No. 3778 of 2022). HDFC Bank claimed to have a mortgage on units in Universal Business Park, for which a conveyance deed was executed in favor of M/s Nayanika Holdings Pvt Ltd on 14.10.2015. HDFC Bank argued that since it held a mortgage on these units, they should be excluded from the resolution plan.

## Facts

HDFC Bank Ltd. filed an appeal against an order dated 07.03.2025, where the Adjudicating Authority rejected the objection filed by HDFC Bank (I.A. No. 3778 of 2022). HDFC Bank claimed to have a mortgage on units in Universal Business Park, specifically 8702 sq. ft. on the sixth floor, for which a conveyance deed was executed in favor of M/s Nayanika Holdings Pvt Ltd on 14.10.2015. The bank argued that since it held a mortgage on these units, they should be excluded from the resolution plan. The Adjudicating Authority had previously approved the resolution plan in 2021, and the matter was remitted to the Committee of Creditors. The Respondent argued that HDFC Bank lacked the locus standi to object to the plan. The court noted the absence of a Tripartite Agreement

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## Issues and analysis

### Issue 1: Whether the Appellant (HDFC Bank) has the locus …

**Ratio:** An applicant bank has no locus to object to a resolution plan which already stands

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**Reasoning:** The Adjudicating Authority had already approved the resolution plan, and the matter was

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**Interpretation:** The principle of locus standi dictates that a party must have a sufficient

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**Application:** Since the resolution plan was already approved by the CoC, and the Applicant

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** HDFC Bank…
- **Respondents:** Nayanika Holdings…; Atul Kumar…
- **Advocates:** Gaurav…; Dhruv Dev…; +10 more

## Timeline

- **2025-03-07 — Order by Adjudicating…**: The Adjudicating Authority considered and rejected the objection filed by I.A. No. 3778…
- **2015-10-14 — Execution of Conveyance…**: Conveyance deed was executed in favour…

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